Three of the top 5 fastest growing economies in Africa are located in East Africa; Rwanda with 8.7 per cent growth, Ethiopia with 7.4 percent, and Tanzania 6.8 percent growth. In comparison, economic growth in the entire continent was recorded at 3.4 percent, with East Africa’s average growth estimated at 5 percent in the same period. Oh did I mention that the region is also home to three of the top 10 fastest growing economies in the world?
Keep in mind that that East Africa does not host the larger share of Africa’s wealth. Of the big five economies in Africa; Algeria, Egypt, Morocco, Nigeria and South Africa, none is based in the east. East Africa contributes less than 20% to Africa’s overall GDP. What are countries in East Africa doing differently from other regions that seem to have more potential?
We know that East Africa is famous for some of the most beautiful wildlife in the world, and that the area is also home to Africa’s tallest mountain. But this doesn’t answer the question of why this region is dominating. Well, today we find out why East Africa has the fastest growing economy in Africa. If you are new here, you are welcome. Consider subscribing to After School Africa to continue exploring opportunities.
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14 апр 2020
